According to the survey conducted by the Association of Insurance Companies of Greece (AAEE) among its member Insurance Companies, the total premium production in 2024 increased by 8.7% compared to the previous year, amounting to EUR 5.68 billion.
In more detail:
- Non-life Insurance increased by 9.4%, reaching EUR 2.95 billion.
- Life Insurance increased by 7.9%, reaching EUR 2.73 billion.
- Motor insurance amounted to almost half of the non-life business, reaching EUR 1.13 billion, 7.6% up y-o-y
- Property insurance lines totaled EUR 651.37 million, 14.8% more y-o-y.
Paid claims by Greek insurers in 2024 amounted to EUR 2.17 billion.
Alexandros Sarrigeorgiou, President of the Hellenic Insurance Association, commenting on the results of the survey, said: "In 2024, the upward trend of the insurance market continued in terms of premium production, both in general insurance and life insurance. There was demand for insurance in many sectors, with particular emphasis on property insurance, civil liability, health and investment-linked life plans. It is worth noting that the increase in premium production was significantly higher than inflation, confirming the strong growth of the sector. This development shows that more and more citizens understand the value of insurance as a substantial investment for the future and are turning to it for their protection."
On the Greek insurance market there are operating 30 local insurance companies, 17 branches of foreign insurance enterprises and 3 Panhellenic mutual societies.
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